ONGC falls on reporting loss of Rs 4000 crore on gas output in FY18

Oil & Natural Gas Corporation Ltd. | Oil Exploration | Oil & Gas | BSE: 500312 | NSE: ONGC

05 Jun 2018 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs. 170.15, down by 1.10 points or 0.64% from its previous closing of Rs. 171.25 on the BSE.

The scrip opened at Rs. 172.00 and has touched a high and low of Rs. 172.00 and Rs. 169.20 respectively. So far 67644 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 212.90 on 25-Jan-2018 and a 52 week low of Rs. 155.30 on 27-Jun-2017.

Last one week high and low of the scrip stood at Rs. 180.05 and Rs. 169.20 respectively. The current market cap of the company is Rs. 218550.00 crore.

The promoters holding in the company stood at 67.72%, while Institutions and Non-Institutions held 18.72% and 13.57% respectively.

Oil and Natural Gas Corporation (ONGC) has logged a loss of Rs 4,000 crore on natural gas output in the financial year ended March 31, 2018, as the government mandated price for the fuel was less than the cost of production.

As per a new mechanism approved by the government in October 2014, the price of domestically produced natural gas is to be revised every six months -- April 1 and October 1 -- using weighted average of rates prevalent in gas surplus markets like Henry Hub (US), National Balancing Point (UK excluding Russia), Alberta (Canada) and Russia.

Using this formula, the price for April to September came to $3.06 per mmBtu as compared to $2.89 in previous six months. The company required at least $4 per million British thermal unit to break-even as compared to current gas price of $3.06 per mmBtu.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

ONGC Share Price

234.85 1.15 (0.49%)

30-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
ONGC	234.85
Oil India	416.90
Jindal Drilling&Inds	544.60
Deep Industries	454.80
Asian Energy Service	359.10
View more..

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